Swiss Life Asset Management Ltd Acquires 4,213 Shares of Nucor Corporation $NUE

Swiss Life Asset Management Ltd lifted its holdings in shares of Nucor Corporation (NYSE:NUE) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,056 shares of the basic materials company’s stock after acquiring an additional 4,213 shares during the period. Swiss Life Asset Management Ltd’s holdings in Nucor were worth $8,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NUE. Stance Capital LLC bought a new stake in shares of Nucor during the third quarter worth about $25,000. AXS Investments LLC bought a new stake in Nucor in the 3rd quarter worth about $37,000. Vision Financial Markets LLC grew its position in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Caitlin John LLC bought a new stake in Nucor in the 3rd quarter worth about $41,000. Finally, Geneos Wealth Management Inc. grew its position in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NUE has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Morgan Stanley upped their price objective on shares of Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group upped their price objective on shares of Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group upped their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average target price of $243.80.

Nucor Stock Down 1.0%

Nucor stock opened at $229.77 on Wednesday. Nucor Corporation has a twelve month low of $106.21 and a twelve month high of $235.44. The firm has a 50 day moving average price of $187.33 and a 200-day moving average price of $173.22. The company has a market capitalization of $52.30 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.67 and a beta of 1.87. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. As a group, equities analysts predict that Nucor Corporation will post 13.64 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, March 31st. Nucor’s dividend payout ratio is currently 22.18%.

Nucor declared that its board has authorized a share buyback plan on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Sumoski sold 33,068 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the transaction, the executive vice president directly owned 243,339 shares of the company’s stock, valued at $54,914,312.13. This represents a 11.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 69,318 shares of company stock worth $15,672,093. 0.62% of the stock is owned by insiders.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.